아프리카ㆍ중동
연구정보
[경제] Covid-19 and the monetary-fiscal policy nexus in Africa
아프리카ㆍ 중동 일반 국외연구자료 연구보고서 - BIS 발간일 : 2022-02-10 등록일 : 2022-02-25 원문링크
The Covid-19 pandemic reinforced the already close interactions between monetary and fiscal policies in Africa. Policymakers provided support to their economies in a coordinated way. Both policies were countercyclical and complementary. Central banks reacted more forcefully than fiscal authorities, as high debt constrained the fiscal response. The tighter fiscal-monetary policy nexus – while effective in facing the pandemic shock – presents risks for the future. The worsening fiscal situation represents a major challenge, not least for central banks. Against a backdrop of inflationary pressures and subdued recovery, political pressures could weigh on the management of monetary policy and generate tensions between policymakers. For central banks, reasserting the paramount importance of the goal of price stability is essential in order to reaffirm solid boundaries between fiscal and monetary policy, and to fend off fiscal dominance risks.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
| 이전글 | [경제] Reaping Africa’s demographic dividend | 2022-01-13 |
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| 다음글 | [경제] Rural Employment in Africa : Trends and Challenges | 2022-03-13 |
